Washington Mutual Folds - Credit Tightens again

[macattak1]

So the amazing Banking Cartel that gave us the Federal Reserve and the great depression has now provided the Savings and Loan scandal and now tops it with bank failure after bank failure after bank failure. And Washington Mutual is a Doooozy of a failure!!!

 

DC, Bush, the Fed and Banking Chairmen think our economy is like a house of cards where if one piece fails the whole thing collapses and so want to bail them all out at tax payer expense. I say let them fall. Increase reserves by 2% a year till we get to 35% and stop screwing with Interest rates which just causes inflation at this point.

 

Stronger banking system would provide a stronger and more stable $ based upon real tangibles not just our governments full faith and backing of it which is now transparently near worthless.

 

Ford and GM may need some strong banking support in the next few years and I am not sure it is going to be around. Chrysler will to, but they will probably just be allowed to fold.

 

If anyone thought that CEO's of none banking industries were greedy you were right. But now we further see we can not trust the bankers any more then every day industry, if not significantly less so. Only difference is that the bankers sell us that they are the ones that should control the distribution of money in the country. Perahaps we can get rid of the Federal Reserve at the same time as the IRS! That would be sheer luck!

 

Every month the number of people that are capable of buying $30k and up cars shrinks due to this banking scandal. And every day companies and those that produce real tangible goods now suffer. Yet I hear so little to nothing about the bankers and what they and the Feds have done to us!!!

 

Peace and Blessings

[fmccap]

I found this interesting.

 

Ten Financial Entities On The Brink

Financial Entities On The Brink

 

Lehman (LEH)

Washington Mutual (WM)

Fannie Mae (FNM)

Freddie Mac (FRE)

Corus Bank (CORS)

BankUnited (BKUNA)

Downey Savings (DSL)

Wachovia (WB)

Regions Financial (RF)

MBIA (MBI)

Ambac (ABK)

 

I am quite sure there are many more deserving candidates that should be on the list. An excellent case can be made for Ford (F) and GM. They are really not manufacturing companies but rather financial lending disasters.

 

The key here is there is virtually no chance the Fed can save them all, or even most of them. The list is simply Too Big To Bail.

[armadamaster]

CEO of failed Washington Mutual entitled to millions after few weeks on job

 

 

WASHINGTON (AP) -- The CEO of failed Washington Mutual Inc., on the job only a few weeks before the nation's largest thrift was seized by the government and sold to JPMorgan Chase & Co., is entitled to more than $13 million in severance and bonus pay.

 

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